International Financial Markets Structure and Innovation Submitted by Table of Contents No.TopicPage No.1Introduction032Benefits of tapping international markets043Foreign equity market064Medium versus long-term financing075Pros and Cons of Eurobond market086JPY financing107Cash flow consequences of floating rate note118Conclusion129References 13 Introduction Financial globalization occurs when cross-border flow of money takes place to facilitate foreign direct investment (FDI) by multinational corporations. MNCs usually participate in acquisition of real assets (e.g. manufacturing plant) for the purpose of global trade and investments in global financial assets (e.g. bonds). MNCs are vital participants in foreign exchange markets as they conduct various transactions with foreign entities like foreign subsidiaries, affiliates, customers and suppliers. Their transactions require dealing with foreign currencies. Currencies are traded in foreign exchange markets which are dominated by large global banks. In addition to MNCs there are other beneficiaries of foreign exchange markets are banks and other financial institutions, such as mutual funds, pension funds and insurance firms, governments and individuals (Robin, 2011). MNCs facilitated by the foreign exchange markets and other factors like, relaxed trade regulations, less restricted flow of trade, flexible movement of human, physical and financial capital, supportive global political environment, technological advancements and IT advancements are able to operate in numerous international markets to reap several benefits of globalization (discussed later). However, it is most important to acknowledge the role of information in globalization. All markets function on information. Information that facilitates the access to various markets and the participants of those markets (individuals and entities that trade in those markets) is important. Improvements in telecommunication and continuous developments in Information Technologies that support global digital communications have had the effect of bringing global markets and their participants closer together, making those markets more efficient, and increasing the opportunities for trade to occur. Hence, increases in trade translates into increases in globalization. What are the overall benefits of tapping international markets Does it make sense for Clover given its success in using domestic capital markets Trade is the most significant aspect of globalization. Trade takes place when there is market and demand for goods and service and market for financing. Due to the large size of global financial markets compared to domestic financial market, if Clover decides to invest in global financial markets on lower cost but larger financing issue size. Large firms like Clover and MNCs are more able to invest in global markets and globalize, courtesy to their given success, expertise and large scale operational size. Clover is already a well-established and successful capital issuer in the domestic market and is followed by 16 Wall street analysts. Hence, to enter global markets seems to be the right move for the company. A corporation like Clover can benefit from tapping in international markets in various ways. Competitive advantage can be achieved through technology, cheaper easily available human and/or capital resources and better infrastructure. Hence, they can involve in international movement of physical capital in search of higher returns (Mundell, 1956). As highlighted in the OLI theory proposed by Dunning (1977), a firm like Clover can decide to go global and tap international markets for the three potential sources of advantages, i.e. Ownership, Location and Internalization. The OLI model is sometimes referred as the knowledge capital approach to FDI, as it explains why a firm expands to overseas locations and becomes a multination corporation, the reason being that they have specific and unique advantages…
not fair to the children to have to grow up and be treated differently, because of a defect caused by their parents.
The lives of millions of children are touched by substance use disorders (SUDs). The 2007 National Survey on Drug Use and Health reports that 8.3 million children live with at least one parent who abused or was dependent on alcohol or an illicit drug during the past year. This includes 13.9 percent of children aged 2 years or younger, 13.6 percent of children aged 3 to 5 years, 12…
Kaplan Business School
During your time as a student you will be asked to submit different types of assessment tasks. Each of these types has different guidelines. This guide focuses on reports.
Most businesses have a ‘house style’ which describes their preferred style of report format. Kaplan Business School also have a preferred format for their assessment reports. It is described in this guide.
Differences between essays and reports
First it is important to recognise the…
TIME WARNER CABLE
ANNUAL REPORT ANALYSIS
December, 9, 2012
Table of Contents
Property and Equipment 3
Intangible Assets 5
Agreement Rights 5
Franchise Rights 6
Depreciation Method 6
Work Cited 8
Financial reports are assessments that help identify the current financial status of a company or organization as of…
and Information Services
Guide to Report Writing
What is a report?
A Report is a highly structured document written in a formal style. Normally a report is based on your reading and some form of practical work, such as an investigation, survey, experiment or review of practice in other organisations.
Reports are written for a particular purpose, to inform, to persuade, or to offer recommendations. They are also produced for a specific audience. Reports generally draw conclusions based on…
Estrella Hall is a new resource building located at Estrella Mountain Community College. This report is to explain what resources are being used more at Estrella Hall. Are computers being utilized more over textbook materials or are textbook materials used more? What was observed, what methods were used and what results were discovered will be discussed.
Students will be observed at Estrella Hall during various times of the day. The purpose of this experiment will be to see how…
will be further evaluated in this assignment.
The six main brands in the golf industry
1. Titleist It is the number one brand in golf
Source: Titleist Report, 2012
Titleist is a high-end brand targeting consumers whose desire for good quality products exceeds the high price (Titleist Report, 2012). When a young consumer purchases their own set of clubs, they will not buy top of the line clubs right away. They will either borrow clubs from a peer or purchase a cost-effective…
A report is a structured written presentation directed to interested readers in response to some specific purpose, aim or request. Here you can access information on how improve your report writing skills.
Characteristics of an effective report
Report writing procedure stage 1: Planning
Report writing procedure stage 2: Writing
Report writing procedure stage 3: Formatting, revising and proof-reading
Characteristics of an effective report…
Report Plan Suggestions
UPS is the receiver at the managerial level of the human resources department. The topic of this strategic recommendation plan is to institute an instructional program for their employees to take in order to decrease the amount of customer grievances and improve customer retention. The purpose of this report is to encourage the managers to sign up for this new customer service instructional program and implemented at their local service center.
Report on Information Sources for Superdrug Stores PLC Company Profile
Table of contents:
2. Sources of intelligence…………………………..3
2.1. Intelligence online…………………………...3
3. Sources used in the company profile………......4
3.1. Databases for market reports……………...4
3.2. Databases for company news……………...5
3.3. Databases for financial data………………..5
3.4. The company’s website………………
Provan – Creating a Culture of Customer Care
Margaret Scotland – Analysing and Presenting Complex Communication
Class: HNC Administration and Information Technology
Please make the suggested amendments and re-submit.
Tesco Customer Care Strategy Report
Submission Date: 6 November 2014
Terms of Reference_____________________________________________________3
2.2 Class hand outs